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[Jeff]

If the offer has now finally been submitted I wonder if the trust (and their members) have their copy yet.

But it's not the official bid yet, as it said in the article you posted:

The new terms are not the official bid

So it may just be a general idea of the offer rather than a detailed bid that people could use to make a final decision.

 

[Real Sharapova]

If the offer has now finally been submitted I wonder if the trust (and their members) have their copy yet.

According to the Mockery, he is not yet able to make a final offer, just heads of agreement. He appears to be the one playing for time here IMO.

 

[bocadillo]

From what I understand Silver it is not a formal offer, just an indication of revised terms. If the Board/shareholders find this acceptable then Mandy can submit a formal offer that reflect these revised terms, if not, he has to think about further revising his terms or pulling out.

It is now getting dangerously close to missing the January transfer window!

I'm sure that you're right in saying that this is only a further 'indication' of what the offer will be, rather than being the formal offer itself. I don't think it's a secret though that MM feels that the amount he should be paying for the shares is about a quarter of what was paid for them rather than the whole amount that was being talked about a few weeks ago. All the shareholders have to decide now is whether they were being honest when they said they weren't treating their purchase as an investment, but rather as a contribution to saving the club - none of them expected to see a penny of their money again (or so they said) - now is the time when we will see if they are happy to have 25% of it back in their pockets.

 

[SilverFox]

fair enough but we are still at a crucial stage. I think if the board accept the terms and recommend they are accepted they probably will be. The main egos that could stand in the way of any deal are on the board after all.

 

[Granite Fox]

I'm sure that you're right in saying that this is only a further 'indication' of what the offer will be, rather than being the formal offer itself. I don't think it's a secret though that MM feels that the amount he should be paying for the shares is about a quarter of what was paid for them rather than the whole amount that was being talked about a few weeks ago. All the shareholders have to decide now is whether they were being honest when they said they weren't treating their purchase as an investment, but rather as a contribution to saving the club - none of them expected to see a penny of their money again (or so they said) - now is the time when we will see if they are happy to have 25% of it back in their pockets.

I believe it is 25% now and a chance to get all of their money back if we get to the Premiership. It appears like a cracking deal if they did not expect a penny back. Mandy is a wise old business man and is playing some brinkmanship here now he has the fans on his side - the shareholders are in a no win situation.

 

[Jeff]

All the shareholders have to decide now is whether they were being honest when they said they weren't treating their purchase as an investment, but rather as a contribution to saving the club - none of them expected to see a penny of their money again (or so they said) - now is the time when we will see if they are happy to have 25% of it back in their pockets.

But they can turn down the offer without it being about the amount of money they're being offered.

As some of the shareholders have kept saying, it's about making sure the club is in good hands for the long term. If MM's plans involve too much risk and don't include guarantees about the club's future if debts are taken on that can't be repaid, why should the shareholders accept it?

If MM's idea is to take over the club on the cheap and use borrowed money to spend on players, why do we need MM to do that - if the club wants to go into debt they can do that without MM's help.

 

[SilverFox]

I believe it is 25% now and a chance to get all of their money back if we get to the Premiership. It appears like a cracking deal if they did not expect a penny back. Mandy is a wise old business man and is playing some brinkmanship here now he has the fans on his side - the shareholders are in a no win situation.

If they don't give a shite about the fans then they are in a very strong position. I for one have not heard one MM chant yet at the walkers and I sit in the kop...

hardly fan pressure!

 

[Yorkshire Vixen]

ive heard chants (albeit fairly quiet ones!!) for mm and i sit in the kop

 

[Granite Fox]

If they don't give a shite about the fans then they are in a very strong position. I for one have not heard one MM chant yet at the walkers and I sit in the kop...

hardly fan pressure!

You only have to read on here and on other boards to know what the fans want. I am sure the shareholders are well aware of this and the possible backlash they would get if the deal does not go through. They could refuse the deal for genuine reasons (long-term future of the club as Jeff has mentioned regarding debts for the deal), but the fans would still be angry as most see the MM deal as the only way forward for the club.

 

[Doggie_muz]

All the shareholders have to decide now is whether they were being honest when they said they weren't treating their purchase as an investment, but rather as a contribution to saving the club - none of them expected to see a penny of their money again (or so they said) - now is the time when we will see if they are happy to have 25% of it back in their pockets.

Not ALL of the shareholders were in it to save the club - I'm sure Linekar, Heskey, George, Bloor etc. would be happy with 25% of their share value (if they thought the deal was in the club's best interests). However, as far as I'm aware, our two biggest shareholders couldn't care less about contributing to the saving of the club. Pukka Pies etc. have to look after their own interests - whether they see the deal that MM is offering as the best they can hope for, only time will tell.

 

[bocadillo]

But they can turn down the offer without it being about the amount of money they're being offered.

True - but I am not sure that they will able to persuade many people to see it in the same light.

As some of the shareholders have kept saying, it's about making sure the club is in good hands for the long term. If MM's plans involve too much risk and don't include guarantee's about the club's future if debts are taken on that can't be repaid, why should the shareholders accept it?

If MM's idea is to take over the club on the cheap and use borrowed money to spend on players, why do we need MM to do that - if the club wants to go into debt they can do that without MM's help.

Yes, yes - they want to do what is right for the club in the long-term. YAWN! Yes, they could go use the methods which MM has used elsewhere, and with some success, without his help - but in reality, they just seem to be set on fiddling while Rome burns.

 

[Leigh]

Hmm. Too many MM threads. Will post the same here as I did in the other one:

RL are reporting that DD is over and that now the club are just waiting for MM's final offer.

 

[bocadillo]

... the fans would still be angry as most see the MM deal as the only way forward for the club.

And if the deal fails, the fans will expect to hear from the Board what other strategy they have to revive the club's fortunes.

 

[bocadillo]

ive heard chants (albeit fairly quiet ones!!) for mm and i sit in the kop

There have been such chants from the Kop and from parts of the East Stand (including, but not eclusively L1). I think the only reason that the chants have been muted is that there has been no wish to disrupt the players' thinking. Whatever group of City fans I find myself in, the majority favour a deal.

 

[Steven]

But they can turn down the offer without it being about the amount of money they're being offered.

As some of the shareholders have kept saying, it's about making sure the club is in good hands for the long term. If MM's plans involve too much risk and don't include guarantee's about the club's future if debts are taken on that can't be repaid, why should the shareholders accept it?

If MM's idea is to take over the club on the cheap and use borrowed money to spend on players, why do we need MM to do that - if the club wants to go into debt they can do that without MM's help.

Why haven't the current board been subject to the same level of scrutiny. It seems to me that MM is being held to a standard that is much higher than that currently in place.

That being the case how do the current Board justify their own positions and that of being the judges in the current takeover beauty contest.

 

[Foxes_Trust]

From what I understand Silver it is not a formal offer, just an indication of revised terms. If the Board/shareholders find this acceptable then Mandy can submit a formal offer that reflect these revised terms, if not, he has to think about further revising his terms or pulling out.

It is now getting dangerously close to missing the January transfer window!

Agreed that is the current position.

 

[stevewalshwasgod]

whats the odds for it going belly up

 

[Feriol]

a good point was raised about pukka pies not really caring about the club. they have a duty to their shareholders to get the best deal possible, so they rightly should reject a deal if it isnt at least as financially attractive as keeping the shares. the same would be true of our other major shareholder (Pepsi?) they will have to have the same thinking.

One other thing i have begun to think about is that maybe MM wants to miss the January Transfer Window? if he doesn't intend to spend anything in january he will avoid the fans disapointment if the deal is delayed.

 

[Real Sharapova]

a good point was raised about pukka pies not really caring about the club. they have a duty to their shareholders to get the best deal possible, so they rightly should reject a deal if it isnt at least as financially attractive as keeping the shares. the same would be true of our other major shareholder (Pepsi?) they will have to have the same thinking.

One other thing i have begun to think about is that maybe MM wants to miss the January Transfer Window? if he doesn't intend to spend anything in january he will avoid the fans disapointment if the deal is delayed.

Ah, but Pukka Pies are a privately run family company presumably made up of LCFC fans, as is evidenced by them putting the money in in the first place. We have no shareholders who are publicly quoted companies ( i.e. Pepsico ) and I would hope that if the MM deal appears good for the club going forward that there would be no major shareholders holding out against such a deal. However, we have still to see what he is proposing........

 

[SilverFox]

Agreed that is the current position.

Don't know if you can answer but are the board currently considering these revised terms (i.e. today this very day), or is there a board meeting scheduled for this in the near future?